BAKU, Azerbaijan, June 29
Trend:
The Industrial Development Committee of the Ministry of Industry and Infrastructure Development of Kazakhstan began work on concluding special investment contracts in July 2020, Trend reports citing the Kazakh media.
Since July 2020, 28 special investment contracts and 28 additional agreements have been concluded.
The contracts were concluded in the field of mechanical engineering, construction of ferrous metallurgy, chemical, light and pharmaceutical industries, as well as energy.
Investment contracts were signed with 15 participants of the special economic zone and 12 owners of free warehouses and 1 industrial assembly enterprise of motor vehicles.
This gives entrepreneurs the investment preferences: exemption of imports from customs duties and value-added tax (VAT) on the import of components and spare parts.
In addition, according to the ministry, the signing of contracts has a positive effect on the development of the economy of the regions where the production enterprises are located.
The ministry also noted that the contracts also contribute to increasing tax revenues, as well as to the creation of new jobs.
In turn, according to the contract, enterprises must modernize and study new production facilities, as well as increase volumes.